| Old | New | Differences | |
|---|---|---|---|
| 1 | 1 | ||
| 2 | 2 | ||
| 3 | 3 | EXPLANATION: CAPITALS INDICATE MAT TER ADDED TO EXISTIN G LAW. | |
| 4 | 4 | [Brackets] indicate matter deleted from existing law. | |
| 5 | - | Underlining indicates amendments to bill. | |
| 6 | - | Strike out indicates matter stricken from the bill by amendment or deleted from the law by | |
| 7 | - | amendment. | |
| 8 | 5 | *sb0439* | |
| 9 | 6 | ||
| 10 | 7 | SENATE BILL 439 | |
| 11 | 8 | F2, P2 5lr2188 | |
| 12 | - | CF | |
| 9 | + | CF 5lr2939 | |
| 13 | 10 | By: Senator Lam (By Request – Joint Audit and Evaluation Committee) | |
| 14 | 11 | Introduced and read first time: January 21, 2025 | |
| 15 | 12 | Assigned to: Finance and Education, Energy, and the Environment | |
| 16 | - | Committee Report: Favorable with amendments | |
| 17 | - | Senate action: Adopted | |
| 18 | - | Read second time: February 24, 2025 | |
| 19 | 13 | ||
| 20 | - | ||
| 14 | + | A BILL ENTITLED | |
| 21 | 15 | ||
| 22 | 16 | AN ACT concerning 1 | |
| 23 | 17 | ||
| 24 | 18 | Higher Education – High Impact Economic Development Activities – Alterations 2 | |
| 25 | 19 | ||
| 26 | 20 | FOR the purpose of altering the definition of “high impact economic development activity” 3 | |
| 27 | 21 | to exclude cost savings related to the reduction in the number of University System 4 | |
| 28 | - | of Maryland or Morgan State University employees; requiring the Board of Regents 5 | |
| 29 | - | of the University System of Maryland and the Board of Regents of Morgan State 6 | |
| 30 | - | University to report certain information relating to high impact economic 7 | |
| 31 | - | development activities; repealing the authorization for an official or employee of a 8 | |
| 32 | - | public institution of higher education to be a certain employee of an entity supporting 9 | |
| 33 | - | a high impact economic development activity; making high impact economic 10 | |
| 34 | - | development activity entities subject to State procurement law; and generally 11 | |
| 35 | - | relating to the University System of Maryland and Morgan State University. 12 | |
| 22 | + | of Maryland employees; requiring the Board of Regents of the University System of 5 | |
| 23 | + | Maryland to report certain information relating to high impact economic 6 | |
| 24 | + | development activities; repealing the authorization for an official or employee of a 7 | |
| 25 | + | public institution of higher education to be a certain employee of an entity supporting 8 | |
| 26 | + | a high impact economic development activity; making high impact economic 9 | |
| 27 | + | development activity entities subject to State procurement law; and generally 10 | |
| 28 | + | relating to the University System of Maryland. 11 | |
| 36 | 29 | ||
| 37 | - | BY repealing and reenacting, with amendments, | |
| 38 | - | Article – Education | |
| 39 | - | Section 12–104.1 and 12–113(c) | |
| 40 | - | Annotated Code of Maryland | |
| 41 | - | (2022 Replacement Volume and 2024 Supplement) | |
| 30 | + | BY repealing and reenacting, with amendments, 12 | |
| 31 | + | Article – Education 13 | |
| 32 | + | Section 12–104.1 and 12–113(c) 14 | |
| 33 | + | Annotated Code of Maryland 15 | |
| 34 | + | (2022 Replacement Volume and 2024 Supplement) 16 | |
| 42 | 35 | ||
| 43 | - | BY repealing and reenacting, without amendments, 18 | |
| 44 | - | Article – Education 19 | |
| 45 | - | Section 12–113(a) 20 | |
| 46 | - | Annotated Code of Maryland 21 | |
| 47 | - | (2022 Replacement Volume and 2024 Supplement) 22 | |
| 36 | + | BY repealing and reenacting, without amendments, 17 | |
| 37 | + | Article – Education 18 | |
| 38 | + | Section 12–113(a) 19 | |
| 39 | + | Annotated Code of Maryland 20 | |
| 40 | + | (2022 Replacement Volume and 2024 Supplement) 21 | |
| 41 | + | ||
| 42 | + | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 22 | |
| 43 | + | That the Laws of Maryland read as follows: 23 | |
| 44 | + | ||
| 45 | + | Article – Education 24 | |
| 46 | + | ||
| 47 | + | 12–104.1. 25 | |
| 48 | 48 | 2 SENATE BILL 439 | |
| 49 | 49 | ||
| 50 | 50 | ||
| 51 | - | SECTION 1. BE IT ENACTED BY THE GENERAL ASSEMBLY OF MARYLAND, 1 | |
| 52 | - | That the Laws of Maryland read as follows: 2 | |
| 51 | + | (a) (1) In this section, “high impact economic development activity” means an 1 | |
| 52 | + | initiative, transaction, or other undertaking by the University System of Maryland or one 2 | |
| 53 | + | of its constituent institutions to create or facilitate: 3 | |
| 53 | 54 | ||
| 54 | - | ||
| 55 | + | [(1)] (I) 20 or more new jobs in the State of Maryland; 4 | |
| 55 | 56 | ||
| 56 | - | 12–104.1. 4 | |
| 57 | + | [(2)] (II) The award or completion of at least $1,000,000 in externally 5 | |
| 58 | + | funded research or other projects; 6 | |
| 57 | 59 | ||
| 58 | - | (a) (1) In this section, “high impact economic development activity” means an 5 | |
| 59 | - | initiative, transaction, or other undertaking by the University System of Maryland or one 6 | |
| 60 | - | of its constituent institutions to create or facilitate: 7 | |
| 60 | + | [(3)] (III) The establishment or relocation of one or more new companies to 7 | |
| 61 | + | be registered or incorporated in the State and doing business in the State; 8 | |
| 61 | 62 | ||
| 62 | - | [( | |
| 63 | + | [(4)] (IV) The production of at least $1,000,000 of annual gross revenue; 9 | |
| 63 | 64 | ||
| 64 | - | [( | |
| 65 | - | ||
| 65 | + | [(5)] (V) The licensing and potential commercialization of a promising 10 | |
| 66 | + | new technology or other product; or 11 | |
| 66 | 67 | ||
| 67 | - | [( | |
| 68 | - | ||
| 68 | + | [(6)] (VI) An academic program to meet workforce demand in a 12 | |
| 69 | + | documented labor shortage field. 13 | |
| 69 | 70 | ||
| 70 | - | [(4)] (IV) The production of at least $1,000,000 of annual gross revenue; 13 | |
| 71 | + | (2) “HIGH IMPACT DEVELOPME NT ACTIVITY” DOES NOT INCLUDE 14 | |
| 72 | + | COST SAVINGS RELATED TO T HE REDUCTION IN THE NUMBER OF UNIVERSITY 15 | |
| 73 | + | EMPLOYEES. 16 | |
| 71 | 74 | ||
| 72 | - | [(5)] (V) The licensing and potential commercialization of a promising 14 | |
| 73 | - | new technology or other product; or 15 | |
| 75 | + | (b) To promote the economic interests of the State as mandated in §§ 10–205(c) 17 | |
| 76 | + | and 15–107 of this article, the University System of Maryland shall utilize its powers as a 18 | |
| 77 | + | public corporation established in § 12–104 of this subtitle to undertake high impact 19 | |
| 78 | + | economic development activities that support: 20 | |
| 74 | 79 | ||
| 75 | - | [(6)] (VI) An academic program to meet workforce demand in a 16 | |
| 76 | - | documented labor shortage field. 17 | |
| 80 | + | (1) Job creation and workforce development; 21 | |
| 77 | 81 | ||
| 78 | - | (2) “HIGH IMPACT DEVELOPME NT ACTIVITY” DOES NOT INCLUDE 18 | |
| 79 | - | COST SAVINGS RELATED TO THE RED UCTION IN THE NUMBER OF UNIVERSITY 19 | |
| 80 | - | EMPLOYEES. 20 | |
| 82 | + | (2) Technology transfer, commercialization, and entrepreneurship; and 22 | |
| 81 | 83 | ||
| 82 | - | (b) To promote the economic interests of the State as mandated in §§ 10–205(c) 21 | |
| 83 | - | and 15–107 of this article, the University System of Maryland shall utilize its powers as a 22 | |
| 84 | - | public corporation established in § 12–104 of this subtitle to undertake high impact 23 | |
| 85 | - | economic development activities that support: 24 | |
| 84 | + | (3) Increased sponsored research funding and other revenues. 23 | |
| 86 | 85 | ||
| 87 | - | (1) Job creation and workforce development; 25 | |
| 86 | + | (c) In order for an activity to qualify as a high impact economic development 24 | |
| 87 | + | activity: 25 | |
| 88 | 88 | ||
| 89 | - | (2) Technology transfer, commercialization, and entrepreneurship; and 26 | |
| 89 | + | (1) The president of a constituent institution, or the president’s designee, 26 | |
| 90 | + | shall forward a request to the Chancellor for certification that the activity meets the criteria 27 | |
| 91 | + | defined in subsection (a) of this section; and 28 | |
| 90 | 92 | ||
| 91 | - | (3) Increased sponsored research funding and other revenues. 27 | |
| 92 | - | ||
| 93 | - | (c) In order for an activity to qualify as a high impact economic development 28 | |
| 94 | - | activity: 29 | |
| 93 | + | (2) The Chancellor, or the Chancellor’s designee, shall notify the Board of 29 | |
| 94 | + | Regents and the Board of Public Works of any certified activity for review. 30 | |
| 95 | 95 | SENATE BILL 439 3 | |
| 96 | 96 | ||
| 97 | 97 | ||
| 98 | - | (1) The president of a constituent institution, or the president’s designee, 1 | |
| 99 | - | shall forward a request to the Chancellor for certification that the activity meets the criteria 2 | |
| 100 | - | defined in subsection (a) of this section; and 3 | |
| 98 | + | (d) (1) Notwithstanding any other provision of law, for any high impact 1 | |
| 99 | + | economic development activity within the scope of § 5–310 or § 10–305 of the State Finance 2 | |
| 100 | + | and Procurement Article, the Board of Regents shall be fully responsible for administering 3 | |
| 101 | + | the review and comment process prescribed in those sections. 4 | |
| 101 | 102 | ||
| 102 | - | (2) The Chancellor, or the Chancellor’s designee, shall notify the Board of 4 | |
| 103 | - | Regents and the Board of Public Works of any certified activity for review. 5 | |
| 103 | + | (2) In administering the review and comment process prescribed in §§ 5 | |
| 104 | + | 5–310 and 10–305 of the State Finance and Procurement Article, the Board of Regents shall 6 | |
| 105 | + | include in that process the appropriate legislative committees and units of State 7 | |
| 106 | + | government, which may include: 8 | |
| 104 | 107 | ||
| 105 | - | (d) (1) Notwithstanding any other provision of law, for any high impact 6 | |
| 106 | - | economic development activity within the scope of § 5–310 or § 10–305 of the State Finance 7 | |
| 107 | - | and Procurement Article, the Board of Regents shall be fully responsible for administering 8 | |
| 108 | - | the review and comment process prescribed in those sections. 9 | |
| 108 | + | (i) Committees of the General Assembly; 9 | |
| 109 | 109 | ||
| 110 | - | (2) In administering the review and comment process prescribed in §§ 10 | |
| 111 | - | 5–310 and 10–305 of the State Finance and Procurement Article, the Board of Regents shall 11 | |
| 112 | - | include in that process the appropriate legislative committees and units of State 12 | |
| 113 | - | government, which may include: 13 | |
| 110 | + | (ii) The Board of Public Works; 10 | |
| 114 | 111 | ||
| 115 | - | ( | |
| 112 | + | (iii) The Maryland Historic Trust; 11 | |
| 116 | 113 | ||
| 117 | - | ( | |
| 114 | + | (iv) The Department of Planning; 12 | |
| 118 | 115 | ||
| 119 | - | ( | |
| 116 | + | (v) The Department of the Environment; and 13 | |
| 120 | 117 | ||
| 121 | - | ( | |
| 118 | + | (vi) The Department of Natural Resources. 14 | |
| 122 | 119 | ||
| 123 | - | (v) The Department of the Environment; and 18 | |
| 120 | + | (3) The Board of Regents shall adopt policies and procedures to ensure that 15 | |
| 121 | + | the notice and opportunity for review are conducted in a manner that provides a reasonable 16 | |
| 122 | + | period to complete while not impairing the institution’s capacity for the expeditious and 17 | |
| 123 | + | successful pursuit of a high impact economic development activity. 18 | |
| 124 | 124 | ||
| 125 | - | (vi) The Department of Natural Resources. 19 | |
| 125 | + | (e) (1) On or before October 1 of each year, the Board of Regents shall report 19 | |
| 126 | + | to the Board of Public Works and, in accordance with § 2–1257 of the State Government 20 | |
| 127 | + | Article, the Senate Finance Committee, the House Economic Matters Committee, the 21 | |
| 128 | + | Senate Budget and Taxation Committee, and the House Appropriations Committee on the 22 | |
| 129 | + | high impact economic development activities undertaken under this section during the 23 | |
| 130 | + | preceding fiscal year. 24 | |
| 126 | 131 | ||
| 127 | - | (3) The Board of Regents shall adopt policies and procedures to ensure that 20 | |
| 128 | - | the notice and opportunity for review are conducted in a manner that provides a reasonable 21 | |
| 129 | - | period to complete while not impairing the institution’s capacity for the expeditious and 22 | |
| 130 | - | successful pursuit of a high impact economic development activity. 23 | |
| 132 | + | (2) THE REPORT REQUIRED U NDER PARAGRAPH (1) OF THIS 25 | |
| 133 | + | SUBSECTION SHALL INC LUDE: 26 | |
| 131 | 134 | ||
| 132 | - | (e) (1) On or before October 1 of each year, the Board of Regents shall report 24 | |
| 133 | - | to the Board of Public Works and, in accordance with § 2–1257 of the State Government 25 | |
| 134 | - | Article, the Senate Finance Committee, the House Economic Matters Committee, the 26 | |
| 135 | - | Senate Budget and Taxation Committee, and the House Appropriations Committee on the 27 | |
| 136 | - | high impact economic development activities undertaken under this section during the 28 | |
| 137 | - | preceding fiscal year. 29 | |
| 135 | + | (I) THE AMOUNT OF STATE OR UNIVERSITY FUNDS USED ON 27 | |
| 136 | + | EACH HIGH IMPACT ECONOM IC DEVELOPMENT ACTIV ITY DURING THE PRECE DING 28 | |
| 137 | + | YEAR; 29 | |
| 138 | 138 | ||
| 139 | - | ( | |
| 140 | - | ||
| 139 | + | (II) THE NET BENEFIT OF EA CH HIGH IMPACT ECONOMIC 30 | |
| 140 | + | DEVELOPMENT ACTIVITY ; AND 31 | |
| 141 | 141 | 4 SENATE BILL 439 | |
| 142 | 142 | ||
| 143 | 143 | ||
| 144 | - | ( | |
| 145 | - | ||
| 146 | - | ||
| 144 | + | (III) WHETHER THE BOARD OF REGENTS BELIEVES THAT EACH 1 | |
| 145 | + | HIGH IMPACT ECONOMIC DEVELOPMENT ACTIVITY IS IN THE BEST INTEREST OF THE 2 | |
| 146 | + | STATE. 3 | |
| 147 | 147 | ||
| 148 | - | (II) THE NET BENEFIT OF EA CH HIGH IMPACT ECONO MIC 4 | |
| 149 | - | DEVELOPMENT ACTIVITY ; AND 5 | |
| 148 | + | 12–113. 4 | |
| 150 | 149 | ||
| 151 | - | (III) WHETHER THE BOARD OF REGENTS BELIEVES THAT EACH 6 | |
| 152 | - | HIGH IMPACT ECONOMIC DEVELOPMENT ACTIVITY IS IN THE BEST INTER EST OF THE 7 | |
| 153 | - | STATE. 8 | |
| 150 | + | (a) Consistent with § 15–107 of this article and any other applicable law, the 5 | |
| 151 | + | Board of Regents may establish, invest in, finance, and operate businesses or business 6 | |
| 152 | + | entities when the Board finds that doing so would further one or more goals of the 7 | |
| 153 | + | University and is related to the mission of the University. 8 | |
| 154 | 154 | ||
| 155 | - | 12–113. 9 | |
| 155 | + | (c) (1) Subject to the requirements of this section, an institution may 9 | |
| 156 | + | establish, invest in, finance, or operate a corporation, foundation, consortium, or other 10 | |
| 157 | + | entity that is intended to support a high impact economic development activity, as defined 11 | |
| 158 | + | in § 12–104.1 of this subtitle. 12 | |
| 156 | 159 | ||
| 157 | - | (a) Consistent with § 15–107 of this article and any other applicable law, the 10 | |
| 158 | - | Board of Regents may establish, invest in, finance, and operate businesses or business 11 | |
| 159 | - | entities when the Board finds that doing so would further one or more goals of the 12 | |
| 160 | - | University and is related to the mission of the University. 13 | |
| 160 | + | [(2) Notwithstanding the provisions of §§ 5–501 through 5–504 of the 13 | |
| 161 | + | General Provisions Article and subject to § 5–525 of the General Provisions Article, an 14 | |
| 162 | + | official or employee of a public institution of higher education may be a director, official, or 15 | |
| 163 | + | employee of an entity intended to support a high impact economic development activity, if 16 | |
| 164 | + | the individual’s participation advances the interests of the institution. 17 | |
| 161 | 165 | ||
| 162 | - | ( | |
| 163 | - | ||
| 164 | - | ||
| 165 | - | ||
| 166 | + | (3) Division II of the State Finance and Procurement Article does not apply 18 | |
| 167 | + | to transactions between an entity established, financed, or operated under this subsection 19 | |
| 168 | + | and the institution or consortium of institutions that established, financed, or operated the 20 | |
| 169 | + | entity.] 21 | |
| 166 | 170 | ||
| 167 | - | [(2) Notwithstanding the provisions of §§ 5–501 through 5–504 of the 18 | |
| 168 | - | General Provisions Article and subject to § 5–525 of the General Provisions Article, an 19 | |
| 169 | - | official or employee of a public institution of higher education may be a director, official, or 20 | |
| 170 | - | employee of an entity intended to support a high impact economic development activity, if 21 | |
| 171 | - | the individual’s participation advances the interests of the institution. 22 | |
| 171 | + | [(4)] (2) (i) The Board of Regents shall adopt policies and procedures 22 | |
| 172 | + | governing the establishment of high impact economic development entities to ensure that 23 | |
| 173 | + | the institution’s participation in the entity furthers the interests of the institution, the 24 | |
| 174 | + | University System of Maryland, and the State. 25 | |
| 172 | 175 | ||
| 173 | - | (3) Division II of the State Finance and Procurement Article does not apply 23 | |
| 174 | - | to transactions between an entity established, financed, or operated under this subsection 24 | |
| 175 | - | and the institution or consortium of institutions that established, financed, or operated the 25 | |
| 176 | - | entity.] 26 | |
| 176 | + | (ii) The policies and procedures under subparagraph (i) of this 26 | |
| 177 | + | paragraph shall include requirements for: 27 | |
| 177 | 178 | ||
| 178 | - | [(4)] (2) (i) The Board of Regents shall adopt policies and procedures 27 | |
| 179 | - | governing the establishment of high impact economic development entities to ensure that 28 | |
| 180 | - | the institution’s participation in the entity furthers the interests of the institution, the 29 | |
| 181 | - | University System of Maryland, and the State. 30 | |
| 179 | + | 1. Recognition of the entity by the Board of Regents; 28 | |
| 182 | 180 | ||
| 183 | - | | |
| 184 | - | ||
| 181 | + | 2. An annual audit of the entity by an independent certified 29 | |
| 182 | + | public accountant; and 30 | |
| 185 | 183 | ||
| 186 | - | 1. Recognition of the entity by the Board of Regents; 33 | |
| 184 | + | 3. Adequate safeguards with regard to conflicts of interest, 31 | |
| 185 | + | proper contracting practices, and other fundamental ethical and business practice 32 | |
| 186 | + | standards. 33 | |
| 187 | 187 | ||
| 188 | - | 2. An annual audit of the entity by an independent certified 34 | |
| 189 | - | public accountant; and 35 SENATE BILL 439 5 | |
| 190 | - | ||
| 191 | - | ||
| 192 | - | ||
| 193 | - | 3. THE LEGISLATIVE AUDITOR TO AUDIT ALL 1 | |
| 194 | - | EXPENDITURES AND ACC OUNTS OF THE ENTITY DURING AN AUDIT COND UCTED 2 | |
| 195 | - | UNDER § 12–105 OF THIS SUBTITLE AND IN ACCORDANCE WITH §§ 2–1220 THROUGH 3 | |
| 196 | - | 2–1227 OF THE STATE GOVERNMENT ARTICLE; AND 4 | |
| 197 | - | ||
| 198 | - | 4. Adequate safeguards with regard to conflicts of interest, 5 | |
| 199 | - | proper contracting practices, and other fundamental ethical and business practice 6 | |
| 200 | - | standards. 7 | |
| 201 | - | ||
| 202 | - | 14–104.1. 8 | |
| 203 | - | ||
| 204 | - | (a) (1) In this section, “high impact economic development activity” means an 9 | |
| 205 | - | initiative, transaction, or other undertaking by Morgan State University to create or 10 | |
| 206 | - | facilitate: 11 | |
| 207 | - | ||
| 208 | - | [(1)] (I) 20 or more new jobs in the State; 12 | |
| 209 | - | ||
| 210 | - | [(2)] (II) The award or completion of at least $1,000,000 in externally 13 | |
| 211 | - | funded research or other projects; 14 | |
| 212 | - | ||
| 213 | - | [(3)] (III) The establishment or relocation of one or more new companies to 15 | |
| 214 | - | be registered or incorporated in the State and doing business in the State; 16 | |
| 215 | - | ||
| 216 | - | [(4)] (IV) The production of at least $1,000,000 of annual gross revenue; 17 | |
| 217 | - | ||
| 218 | - | [(5)] (V) The licensing and potential commercialization of a promising 18 | |
| 219 | - | new technology or other product; or 19 | |
| 220 | - | ||
| 221 | - | [(6)] (VI) An academic program to meet workforce demand in a 20 | |
| 222 | - | documented labor shortage field. 21 | |
| 223 | - | ||
| 224 | - | (2) “HIGH IMPACT ECONOMIC DEVELOPMENT ACTIVITY” DOES NOT 22 | |
| 225 | - | INCLUDE COST SAVINGS RELATED TO THE REDUC TION IN THE NUMBER O F 23 | |
| 226 | - | UNIVERSITY EMPLOYEES . 24 | |
| 227 | - | ||
| 228 | - | (b) To promote the economic interests of the State as mandated in §§ 10–205(c) 25 | |
| 229 | - | and 15–107 of this article, the Morgan State University shall utilize its powers as a public 26 | |
| 230 | - | corporation established in § 14–104 of this subtitle to undertake high impact economic 27 | |
| 231 | - | development activities that support: 28 | |
| 232 | - | ||
| 233 | - | (1) Job creation and workforce development; 29 | |
| 234 | - | ||
| 235 | - | (2) Technology transfer, commercialization, and entrepreneurship; and 30 | |
| 236 | - | ||
| 237 | - | (3) Increased sponsored research funding and other revenues. 31 6 SENATE BILL 439 | |
| 238 | - | ||
| 239 | - | ||
| 240 | - | ||
| 241 | - | (c) In order for an activity to qualify as a high impact economic development 1 | |
| 242 | - | activity: 2 | |
| 243 | - | ||
| 244 | - | (1) The President or the President’s designee shall certify that the activity 3 | |
| 245 | - | meets the criteria defined in subsection (a) of this section; and 4 | |
| 246 | - | ||
| 247 | - | (2) The President or the President’s designee shall notify the Board of 5 | |
| 248 | - | Regents and the Board of Public Works of any certified activity for review. 6 | |
| 249 | - | ||
| 250 | - | (d) (1) Notwithstanding any other provision of law, for any high impact 7 | |
| 251 | - | economic activity within the scope of § 5–310 or § 10–305 of the State Finance and 8 | |
| 252 | - | Procurement Article, the Board of Regents shall be fully responsible for administering the 9 | |
| 253 | - | review and comment process prescribed in those sections. 10 | |
| 254 | - | ||
| 255 | - | (2) In administering the review and comment process prescribed in §§ 11 | |
| 256 | - | 5–310 and 10–305 of the State Finance and Procurement Article, the Board of Regents shall 12 | |
| 257 | - | include in the process the appropriate legislative committees and units of State 13 | |
| 258 | - | government, which may include: 14 | |
| 259 | - | ||
| 260 | - | (i) Committees of the General Assembly; 15 | |
| 261 | - | ||
| 262 | - | (ii) The Board of Public Works; 16 | |
| 263 | - | ||
| 264 | - | (iii) The Maryland Historical Trust; 17 | |
| 265 | - | ||
| 266 | - | (iv) The Department of Planning; 18 | |
| 267 | - | ||
| 268 | - | (v) The Department of the Environment; and 19 | |
| 269 | - | ||
| 270 | - | (vi) The Department of Natural Resources. 20 | |
| 271 | - | ||
| 272 | - | (3) The Board of Regents shall adopt policies and procedures to ensure that 21 | |
| 273 | - | the notice and opportunity for review are conducted in a manner that provides a reasonable 22 | |
| 274 | - | period to complete while not impairing the institution’s capacity for the expeditious and 23 | |
| 275 | - | successful pursuit of a high impact economic development activity. 24 | |
| 276 | - | ||
| 277 | - | (e) (1) On or before October 1 of each year, the Board of Regents shall report 25 | |
| 278 | - | to the Board of Public Works and, in accordance with § 2–1257 of the State Government 26 | |
| 279 | - | Article, the Senate Finance Committee, the House Economic Matters Committee, the 27 | |
| 280 | - | Senate Budget and Taxation Committee, and the House Appropriations Committee on the 28 | |
| 281 | - | high impact economic development activities undertaken under this section during the 29 | |
| 282 | - | preceding fiscal year. 30 | |
| 283 | - | ||
| 284 | - | (2) THE REPORT REQUIRED U NDER PARAGRAPH (1) OF THIS 31 | |
| 285 | - | SUBSECTION SHALL INC LUDE: 32 | |
| 286 | - | SENATE BILL 439 7 | |
| 287 | - | ||
| 288 | - | ||
| 289 | - | (I) THE AMOUNT OF STATE OR UNIVERSITY FUNDS USED ON 1 | |
| 290 | - | EACH HIGH IMPACT ECO NOMIC DEVELOPMENT AC TIVITY DURING THE PR ECEDING 2 | |
| 291 | - | YEAR; 3 | |
| 292 | - | ||
| 293 | - | (II) THE NET BENEFIT OF EA CH HIGH IMPACT ECONO MIC 4 | |
| 294 | - | DEVELOPMENT ACTIVITY ; AND 5 | |
| 295 | - | ||
| 296 | - | (III) WHETHER THE BOARD OF REGENTS BELIEVES THAT EACH 6 | |
| 297 | - | HIGH IMPACT ECONOMIC DEVELOPMENT ACTIVITY IS IN THE BEST INTER EST OF THE 7 | |
| 298 | - | STATE. 8 | |
| 299 | - | ||
| 300 | - | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 9 | |
| 301 | - | 1, 2025. 10 | |
| 302 | - | ||
| 303 | - | ||
| 304 | - | ||
| 305 | - | ||
| 306 | - | Approved: | |
| 307 | - | ________________________________________________________________________________ | |
| 308 | - | Governor. | |
| 309 | - | ________________________________________________________________________________ | |
| 310 | - | President of the Senate. | |
| 311 | - | ________________________________________________________________________________ | |
| 312 | - | Speaker of the House of Delegates. | |
| 188 | + | SECTION 2. AND BE IT FURTHER ENACTED, That this Act shall take effect July 34 | |
| 189 | + | 1, 2025. 35 |